Beth Hammack Foresees Extended Inflation Rates Exceeding Target Levels
Inflation Outlook: Cleveland Fed President Beth Hammack indicated that U.S. inflation may not reach the Federal Reserve's 2% target until 2028, citing persistent service-sector inflation and the impact of tariffs on prices.
Monetary Policy Stance: Hammack opposes interest rate cuts due to ongoing inflationary pressures, advocating for a cautious monetary policy approach that could influence market expectations and risk assets like Bitcoin and Ethereum.
Market Reactions: Hammack's remarks have led to increased caution among market participants, although immediate impacts on cryptocurrency prices were not observed; however, prolonged inflation expectations could affect broader market strategies.
Historical Context: Historical trends show that hawkish Fed policies have previously led to liquidity retrenchment in cryptocurrency markets, suggesting that sustained inflation and high interest rates could negatively impact digital asset valuations.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36100.923 | 48050.461 | 60370.943 | 72320.481 | 84640.963 | 96590.501 | 108910.983 |
| Fibonacci | 48050.461 | 57321.609 | 63049.334 | 72320.481 | 81591.629 | 87319.354 | 96590.501 |
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